Hard to believe it is half way through February already. We have noticed this year has taken off with a real flurry which is a good sign for increasing business confidence. A number of our clients are taking significant initiatives to take their business to the next level which is great to see and that is also keeping us busy with ongoing advice to help them achieve those goals. If this sounds like you make sure you read the article on taking advantage of the R & D tax offset and how it can help you and please have a read of the article on monthly fees we want you to ask questions. 3 simple scenarios how a asking a basic question led to combined tax savings of over $40,000 for 3 clients because they were not scared of accounting fees, and thought to ring and ask a simple question that saved them a fortune.

Advivo and its Directors actively support a number of not for profit organisations also included in this month’s edition of our KWIVKTV and in this newsletter we discuss how businesses can support charities and achieve a Win-win for the business in a number of ways that do not involve just making a basic donation.

Leon Stephan

Managing Partner

Why Does Advivo Do Monthly Fees?
How much should it cost to talk to my accountant?

We  provide tailored, fixed monthly fee solutions so there are no surprises, and in doing this we are able to offer clients help that they otherwise may think they can’t afford.

Click here to read more about how a simple phone call saved one of our clients up to $32,000.00.

How Not For Profits (NFPs) can reach their goals faster.

People often think that Not for Profit Organisations are less concerned with making profits than other organisations because that’s not their primary aim.  This isn’t necessarily correct!

Click here to find out how to increase revenue and control or cut costs to deliver a better outcome for your cause.

Deadline Approaching for the 2017 Financial Year R&D registration

The Research and Development (R&D) Tax Incentive provides a tax offset for Australian company’s eligible costs of doing eligible R&D activities by reducing a company’s income tax liability. Tax offsets of 43.5% or 38.5% are available for costs incurred on eligible activities depending on a company’s annual aggregated turnover.

Click here to find out if you are eligible to apply.

Data Breach Legislation – Are you ready for the changes?

The Australian parliament passed the Privacy Amendment (Notifiable Data Breaches) Act 2017 (NDB scheme) on 13 Feb 2017.

From the 22 February 2018 all entities covered by the Australian Privacy Principles (APPs) will have clear obligations to report eligible data breaches. The amendments are due to commence on 23 February 2018 so providers should start be ready in their businesses for the changes now. Read more.

Have your Say!

Recently, we identified the majority of our team were all regularly supporting various charities and community organisations in which their involved in one way or another.

Each month we’ll a make a donation and you can have your say as to which community organisation you would like us to support. This months

Please click here to vote on this month’s recipient of our contribution.

Key Events / Dates:

  • 21st February – Lodge and pay December 2017 monthly business activity statement for business clients with up to $10 million turnover who report GST monthly and lodge electronically.
  • 21st February – Lodge and pay January 2018 monthly activity statement.
  • 28th February – Lodge tax return for non-taxable large/medium entities as per the latest year lodged (except individuals).
  • 28th February – Lodge tax returns for new registrant (taxable and non-taxable) large/medium entities (except individuals).
  • 28th February – Lodge and pay Self-managed superannuation fund annual return (NAT 71226) for new registrant (taxable and non-taxable) SMSF
  • 28th February  – Lodge and pay quarter 2, 2017–18 activity statement for all lodgment methods.
  • 28th February – Pay quarter 2, 2017–18 instalment notice (form R, S or T). Lodge the notice only if you vary the instalment amount.
  • 28th February – Annual GST return – lodge (and pay if applicable) if the taxpayer does not have a tax return lodgment obligation.
  • 28th February – Lodge and pay quarter 2, 2017–18 Superannuation guarantee charge (SGC) statement – quarterly if the employer did not pay enough contributions on time.